Many property owners don’t understand when it’s time to hire a property manager. Here are some of the points which will help you know that you should hire a property manager or not;
- Distance from where to live to your rental property and how often you can visit the property
The closer you live to the property, the more likely that you can visit the property and carry out repairs and inspections. If you stay away and you don’t have that time to make frequent visits, it’s time to hire a property manager.
- How do you deal with stress? Do you consider yourself to be a tolerant person?
Those who are not able to handle stress should delegate property management otherwise the stress of managing a property can bring health challenges. Some of the questions you can ask yourself to determine if you can deal with tenant issues include;
Get in fights with other tenants or neighbors
Have domestic disputes
Conduct illegal business in the dwelling
Carry on all night parties and revelry
Try to sneak extra people or animals into the home
Decide to sue you
Trash the property
Refuse to pay rent because they are a “professional tenant” and know how to work the legal system for the maximum amount of free housing at the owners expense?
If you can’t manage these things, please consider hiring a property management company to handle your property.
- Are you currently overwhelmed with your property(s)?
If you feel overwhelmed with the demand from your properties and you don’t know how to better the situation, it’s time to think of a property management service company. Hiring a property management company will help you regain control of your houses and investment.
- How many rental properties or units do you have?
As the number of your rental property portfolios continue to grow, so is the need to hire a property management company. For example, if you have properties in different estates in Kisumu, then it may be a good idea to hire a property management in Kisumu Company to manage your investments.
- How much experience do you have with maintenance and repairs?
If maintenance and repairs are not handled properly, you can end up incurring costs instead of saving money. A management company will help you minimize repair and in case of repair, carry it out in a very efficient manner.
- How quickly are you able to get your unit rented?
If you have no competence in attracting tenants, then its better a real estate property management company to be given the opportunity. Advertising, fielding calls, and showing the unit can take a considerable amount of time, but are critical tasks as vacancies will quickly eat into your profit margins. If you question whether you have the skills or the time to make this happen, OR if you have historically had an unacceptably high vacancy rate, you may want to consider hiring a property management company.
Do you want to hire a property management Kisumu company for your investment, think West Kenya Real Estate.